https://www.taxtmi.com/caselaws?id=6377 Money collected by an auctioneer as sales tax in the course of auction sales is treated as a trading receipt for income-tax purposes because its true character, not the bookkeeping description, governs taxation; deduction is available when the amount is later paid over in discharge of the liability. The commentary also explains that the legislative power to tax sales of goods is broad enough to include an auctioneer within the definition of "dealer" where the auctioneer has a close and direct connection with the sale transaction. It notes that a sale by auction is a recognised sale under the Sale of Goods Act, 1930, and that such inclusion was viewed as within legislative competence. en-us Tue, 10 Oct 1972 00:00:00 +0530 Tue, 13 Jan 2026 22:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6377 Money collected by an auctioneer as sales tax in the course of auction sales is treated as a trading receipt for income-tax purposes because its true character, not the bookkeeping description, governs taxation; deduction is available when the amount is later paid over in discharge of the liability. The commentary also explains that the legislative power to tax sales of goods is broad enough to include an auctioneer within the definition of "dealer" where the auctioneer has a close and direct connection with the sale transaction. It notes that a sale by auction is a recognised sale under the Sale of Goods Act, 1930, and that such inclusion was viewed as within legislative competence. Case-Laws Income Tax Tue, 10 Oct 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6377